Wealth Management
Top stories summarized by our editors
5/21/2018

Sens. Todd Young, R-Ind., and Cory Booker, D-N.J., have introduced legislation to create a federal commission to look for ways to improve retirement security for private-sector workers. The commission would consider proposals to help the mobile workforce, and gig and part-time workers, and review policies from other countries, including the mandatory retirement savings systems in some Scandinavian nations, Young said.

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Forbes
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Todd Young, Cory Booker, Sens.
5/21/2018

Women and those with multicultural backgrounds are underrepresented in the advising business, which is a threat to the profession and an opportunity, writes Marguerita Cheng, CEO of Blue Ocean Global Wealth. She champions the idea of conscious inclusion and explains how it can help firms find talent and improve "productivity, profitability, quality, employee commitment and retention."

5/21/2018

Targeting a niche group of prospects could prove more fruitful for an advisor than marketing themselves or their firms as generalists, writes Michael Kitces of Pinnacle Advisory Group. He offers tips on niche marketing, including creating a content hub to invite prospects to engage and forming relationships with key influencers in the niche group.

5/21/2018

There are some instances in which it makes business sense to fire a client, writes Mark Palmerino of CCR Wealth Management. These include poor economics, bad chemistry or behavior that presents a risk to the firm's reputation.

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WealthManagement
5/21/2018

Americans are saving the highest amount of funds for college since 2013, but less than one-third are relying on 529 savings plans, according to a report by Sallie Mae. The most common tool parents are using to save for college is a general savings account.

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Sallie Mae
5/18/2018

US Treasury and Internal Revenue Service officials have been told to hold off on making too many comments about the regulations that will be issued due to the tax act. The reticence has made tax planning difficult.

5/18/2018

The attorneys general of California, New York and Oregon have asked a three-judge panel of the US Court of Appeals for the 5th Circuit to reconsider its decision to deny their request to intervene in a lawsuit regarding the legality of the Labor Department's fiduciary rule. The states also asked that the full court review the matter if their request for reconsideration is denied.

5/18/2018

Global Atlantic Financial Group surveyed retirement advisors to find out what could be done to increase sales of annuities. They suggested multiproduct annuity platforms, easier procedures for emergency withdrawals of funds, improved training for financial professionals working with annuities and a rule requiring advisors to serve the best interests of their clients.

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Atlantic Financial Group
5/18/2018

Allianz reported that its first-quarter life and annuity sales in the US rose to $2.5 billion, a 4% increase over the same quarter last year. Buffered variable annuities accounted for most of the increase in sales, the company said.

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Allianz
5/18/2018

InvestmentNews' "Best Places to Work for Financial Advisers" survey found respondents at small advisory firms with 15-29 employees were more likely to agree with seven statements than respondents at larger advisory firms. A notable gap in employee sentiment was found in regard to the statement: "Staffing levels are adequate to provide quality products/services."

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InvestmentNews